In a small bowl, mix sugar, flour, nutmeg and cinnamon. Sprinkle a handful in the bottom of uncooked pie shell. Fill pie shell with sliced peaches, and sprinkle with remaining sugar mixture. Cover peaches with heavy cream; you may not need all the cream.
Bake pie for 10 minutes. Reduce heat to 350 degrees F (175 degrees C), and bake for 50 minutes longer.
